Pensacola Development Opportunity For
For Sale
Contact for pricing
403 Airport Blvd, Pensacola, FL 32503
Prime development opportunity in Pensacola, Florida, for a lucrative venture.
Property Size62,000 SF
Price / SF$61.29
Days on Market227
Property Features for 403 Airport Blvd
General Information
Standard status
Active
Size
62,000 SF
Class
A
Total Parking Spaces
108
Property subtype
Hospitality, Retail
Zoning
COM
Investment Type
Owner/User
Building Details
Units
107
Listing Agency:
Alliance Real Estate
Listed By:
Daniel Hua · License #FL SL3527144
(850) 516-9967
Source:
Crexi
Added: Mar 3
Changed: Oct 8
Last Checked: Oct 16 at 7:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alliance Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents a development opportunity in Pensacola, Florida. The property is strategically located and is an ideal joint venture prospect for investors. This new hotel development property at 403 Airport Blvd. offers possibilities for creative development or joint partnership ventures. It is situated in a sought-after area of Northwest Florida. The Proposed Cambria Hotel at 403 Airport Blvd. is the backdrop for your next investment. Developer incentives are available to shape the future landscape of Pensacola. The property size is 62000 square feet.
Key Highlights
- Prime development opportunity in Pensacola, Florida.
- Ideal joint venture prospect for investors.
- Strategic location at 403 Airport Blvd.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,554
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,731,080
$2.7M
Cap Rate 7%
$1,950,771
$2.0M
Cap Rate 9%
$1,517,267
$1.5M
Market Conditions
NOI Build-Up for 62,000 SF
Gross rent
$684.5K $11.04/SF
− Vacancy
−$397.0K −$6.40/SF
EGI
$287.5K $4.64/SF
− OpEx
−$150.9K −$2.43/SF
NOI
$136.6K $2.20/SF
Area
Escambia County, FL
Vacancy
58.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,731,080
Cap Rate 7%
$1,950,771
Cap Rate 9%
$1,517,267
Alternative Uses
Best Use
Hotel Hospitality
$1.95M
$1.71M – $2.28M
NOI $136,554 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.20M
$15.92M – $21.23M
NOI $1,273,732 @ 7.0% cap · market cap 33.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 32503, FL
33,693
Population
14,419
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,674
Density / Sq Mi
$67,654
Median Household Income
$32,077
Median Earnings
$1,226
Median Rent
$270,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hotel - Prime development opportunity in Pensacola, Florida, for a lucrative venture.
Where is this hotel located?
The property is located at 403 Airport Blvd Pensacola, FL.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Prime development opportunity in Pensacola, Florida.; Ideal joint venture prospect for investors.; Strategic location at 403 Airport Blvd.
